Tens Of Millions Of Dollars Have Just Been Spent On Rare Timepieces In Geneva
One pocket watch sold for more than $3 million
Over the weekend, watch enthusiasts descended upon the Swiss city of Geneva for an unprecedented number of sales from some of the best auction houses in the world. Phone attendants were kept busy on the line, electronic bids poured in, and paddles were raised with great anticipation as collectors the world over scooped up millions of dollars worth of watches and smashed numerous world records along the way. The timepieces ranged from examples of horological history and technical mastery to modern-day offerings, providing a dizzying array of options for experienced buyers (including museums) and first-timers alike. One even sold for more than $3 million. Here's a look at seven of our favorite highlights.
Heuer Carerra Ref. 1158
Price: $231,399
Auction: Sotheby's Important Watches
Lot: 161
Why it matters: An automatic chronograph with date registers in 18k yellow gold, it was sold together with an engraved, 100-gram gold bar. Developed specifically for Formula One, the watch holds special significance for its provenance: It was a gift given to Swedish driver Ronnie Peterson by Jack Heuer as part of a sponsorship agreement. Produced in 1972, less than 500 pieces of this watch are known to exist. The gold bar was awarded to Ronnie Peterson for outstanding bravery for a race held at the Grand Prix in Nurburgring, Germany in 1972. The lot was estimated at $10,284-$20,569 and sold for $231,399.
Patek Philippe Ref. 1504 Stainless Steel watch with Pink Gold Breguet Numerals
Price: $337,328
Auction: Sotheby's Important Watches
Lot: 212
Why it matters: Only four examples of this watch are known. And this one—a steel version with a black dial and distinctive pink gold numerals from 1941—is the only example of this particular combination of materials. Estimated at $20,569-$41,138, the watch hammered at $337,328.
Breguet et Fils, No. 217 Self-Winding Quarter Repeating Pocket Watch with Equation of Time, Day, Month, and Power Reserve
Price: $3,315,792
Auction: Christie's Rare Watches Including Important Private Collections
Lot: 123
Why it matters: The most expensive watch of the spring Geneva season is also one of the most historical. A Breguet masterpiece from a private collection, the pocket watch once owned by one of Napoleon's generals also belonged to the founder of Agence France-Presse, the world's first news agency. A rare, self-winding model first sold in 1800, it features the rare and fascinating "equation of time"—a quantity of time indicated by the sun, to be added or subtracted from our typically measured 24-hour day. Estimated at $600,000-$1,200,000, it sold for $3,315,792.
Patek Phillipe Ref. 3651 18k Gold Chronograph
Price: $212,282
Auction: Antiquorum Important Modern & Vintage Timepieces
Lot: 476
Why it matters: An 18k gold chronograph from 1961, this watch is only the fourth example to ever appear. Estimated at $78,000-$100,000, it sold for $212,282.
IWC Ref. 377017 Platinum Grand Complication
Price: $91,963
Auction: Antiquorum Important Modern & Vintage Timepieces
Lot: 439
Why it matters: A mere baby compared to some of these other lots, this timepiece from 2006 still holds significance for watch collectors. This black-dial, self-winding platinum Grand Complication from IWC features a minute repeater, square-pusher chronograph, perpetual calendar, and moon phase. Part of a limited edition of 50 pieces, it was estimated at $63,000-$84,000 and sold for $91,963.
Rolex Ref. 4113 Stainless Steel Split Second Chronograph
Price: $2,452,100
Auction: Phillips Stop-Start-Reset: 88 Epic Stainless Steel Chronographs
Lot: 56
Why it matters: Only offered to racing teams and drivers, this rare example from 1942 far exceeded its estimated price of $800,000-$1,600,000, setting a new record price for any Rolex sold at auction at a whopping $2,452,100.
Patek Phillipe Ref. 530 Stainless Steel Wristwatch with Black Dial and Breguet Numerals
Price: $1,473,900
Auction: Phillips Geneva Watch Auction: Three
Lot: 135
Why it matters: A new record was also set for the Patek Philippe Ref. 530 with a stainless steel, complication-free Calatrava from 1941 that simply tells the time. Estimated at $300,000-$600,000, the watch sold for $1,473,900—a stunning result for an extraordinarily beautiful timepiece.
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